Birmingham automotive recruiter sold in major deal
BIRMINGHAM engineering recruiter, Edison Technical Recruitment – which specialises in the automotive sector – has been sold in a major international deal.
The firm, which offers both contract and permanent recruitment services to blue chip original equipment manufacturers and leading suppliers in the UK, in areas such as R&D, product development, electrical and electronic engineering, chassis and powertrain engineering, has been acquired by Assystem, an international engineering group and Euronext Paris listed company.
The terms of the deal have not been disclosed.
RSM’s corporate finance team advised Edison on the sale. The team was led by corporate finance partner James Wild with support from Rikesh Patel.
Martin Kaye’s Eliot Hibbert acted as legal advisor to the seller. Keith Melling and Natalie Lewis from Napthen’s provided legal advice to Assystem, which was also supported by KPMG for financial due diligence.
RSM said the deal brought together two complementary businesses in an operation that would strengthen the recruitment offering and build on the automotive side of the business for Assystem’s Global Product Solutions business in the UK, which is headquartered in Preston.
Mr Wild, corporate finance partner at RSM, said: “Edison is in a strong position in the UK market and is well placed to take advantage of significant investment in technical engineering in the automotive sector. As a long standing client, it was great to support the shareholders on this transaction which delivers the ideal platform to enable growth for both companies.”
Mike Sheehan, CEO of Assystem GPS UK, said the addition of Edison to Assystem would enable the group to exploit synergies and accelerate penetration into the automotive sector in the UK.
